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How to Stake WARP
How-To Guide on Staking WARP tokens
In order to stake WARP, please go to the Staking page and select a planet to stake on.
select a planet to stake on
The staking page will show all the discovered planets a user can stake on. On our example above, only the Earth and Proxima B planets are available, while the remaining planets are awaiting to be discovered.
Staking on Earth is enabled and available by default to all users. Staking on a planet other than Earth is available only to users who have a starship docked on that particular planet. On our example above, you can see that we have a starship available on Proxima B represented by a starship icon showing next to the planet's name.
Beneath the planet's name we have the APY value which represents the yearly compounded interest you will receive for staking on that planet. The interest is being auto-compounded with every rebase, meaning you don't have to withdraw your earnings and reinvest them, the protocol does that for you automatically.
Once you select the planet you want to stake on you will be provided with the following information:
staking information
The following terms are being used:
APY: yearly compounded interest. This is the interest percentage users will receive for staking for an year. The APY is subject to constant change as more users stake/unstake.
TVL: Total Value Locked. Total value of all the WARP staked on the planet.
Index: Interest growth tracking parameter. You can use the Index variable to track your interest over a certain time period. Ex: if the Index is 1 at the time of the stake and it's 2 by the time of the unstake it means the index doubled, then so does your staked amount doubled.
Next Rebase: time until the next interest distribution. A rebase happens every 8 hours.
Ships docked: number of starships docked on a planet.
Your Balance: amount of liquid WARP in the user wallet.
Staked on Earth: balance of sWARP. Amount of WARP the user has staked on planet Earth. This value included the interest earned as well.
Next Reward: amount of sWARP the user will receive on the next rebase.
Next Reward Yield: percentage amount of interest the user will receive on the next rebase.
ROI (5-day-rate): percentage amount of interest the user will receive if he remains staked for the next 5 days.
Enter your stake amount
Once you've selected Earth as the planet you want to stake on, you need to input the amount of WARP you want to stake in the Stake amount field.
There is no minimum or maximum amount that you can stake. The only maximum is your WARP account balance.
If this is the first time you are staking on Earth (or any other planet) there will be an Approval transaction required first and an "Approve" button will show up before the "Stake WARP" button is visible.
There is no minimum staking period meaning you can unstake at any time. However, please notice that unstaking within 3 hours from your last stake will incur a 2% penalty. This is a safety measure of the protocol ensuring people don't stake for a short period of time just to take advantage of the rebase.
When you stake WARP you will notice that you are depositing WARP tokens and you receive in exchange sWARP tokens.
sWARP stands for Staked WARP. Every 8 hours when the rebase happens your sWARP wallet balance will increase by the interest you've earned.
When you want to unstake you simply exchange the sWARP tokens back to WARP tokens at a 1:1 ratio.
Staking on a planet other than Earth
Staking on another planet is similar to staking on Earth with the major difference that you need a starship docked at that planet in order to stake. If you don't have one you'll see a message saying you need a starship docked there and the staking field will not be displayed. You can fly a starship to a planet by going to the Hangar menu.
Similar to how staking WARP on Earth gave you sWARP, you'll notice that each planet has its own set of staked tokens.
For example staking WARP on Proxima B will give you pbWARP tokens in exchange (Proxima B WARP). This is how the protocol keeps track of the amounts you have staked on each individual planet and how much you've earned in interest as well as allow you to see each planet's staked amount balances in your wallet.
Unstaking
Unstaking allows you to exchange Staked WARP tokens back to WARP tokens.
You can unstake tokens anytime, for any amount, from any planet, without the need to have a starship docked on a certain planet.
Please click the unstake tab next to the stake one and fill in the amount of WARP you want to unstake. Please notice that you need to select the planet you want to unstake from. If this is the first time you are unstaking from a planet, an Approval transaction will be required first.
Ex: to unstake sWARP tokens please select the Earth planet, to unstake pbWARP tokens please select the Proxima B planet. The UI will show you the amount of staked tokens you have available for unstake for each planet once you select it.
Reminder: unstaking within 3 hours from your last stake will incur a 2% penalty on the amount being unstaked. The penalty is being burned, thus act as a deflationary measure against the token inflation.
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